Brief: GS Holdings Signs Master Franchise Deal With De Run Elderly Care Property Management (Guangdong)

Octopus (APAC) Holdings

16/03/2023 14:52

March 16 (Reuters) - GS Holdings Ltd  GSHO.SI :
    * HAS SIGNED A MASTER FRANCHISE AGREEMENT WITH DE RUN
ELDERLY CARE
PROPERTY MANAGEMENT (GUANGDONG) GROUP
    * IN SINGAPORE, FIRST OUTLET OF RAFFLES COFFEE & TOAST IS
PLANNED
TO BE OPENED IN MAY 2023
    * AGREEMENT TO EXPAND CHICKEN RICE BRAND, SING SWEE KEE, AND
HAINANESE-STYLED COFFEE BRAND, RAFFLES COFFEE & TOAST, INTO
CHINA
    * UNDER DEAL, GS WILL OBTAIN ONE-TIME FRANCHISE FEE FOR EACH
BRAND
WITH A CONTINUING FRANCHISE ROYALTY FEE ON MONTHLY BASIS
    * FIRST SING SWEE KEE OUTLET IN CHINA IS EXPECTED TO BE
OPENED BY
Q3 2023
    * NEW MASTER FRANCHISE AGREEMENT EXPECTED TO CONTRIBUTE
POSITIVELY
TO GROUP'S CURRENT FY ENDING 31 DEC 2023

Source text for Eikon:  ID:nSN6LMwqs 
Further company coverage:  GSHO.SI